News stories about Paychex (NASDAQ:PAYX) have trended somewhat positive recently, according to Accern Sentiment Analysis. The research firm identifies positive and negative press coverage by analyzing more than twenty million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Paychex earned a daily sentiment score of 0.18 on Accern’s scale. Accern also assigned news articles about the business services provider an impact score of 45.4803956938373 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.
These are some of the media stories that may have effected Accern Sentiment Analysis’s scoring:
- Paychex Well Poised on Portfolio, Client Retention a Concern (finance.yahoo.com)
- The Top Payroll Software Vendors According to the FeaturedCustomers Winter 2017 Customer Success Report Rankings (prweb.com)
- Paychex (PAYX) to Release Quarterly Earnings on Tuesday (americanbankingnews.com)
- Here's Why You Should Add Paychex (PAYX) to Your Portfolio (finance.yahoo.com)
- Here’s Why You Should Add Paychex (PAYX) to Your Portfolio (zacks.com)
PAYX has been the subject of a number of recent research reports. Royal Bank of Canada reiterated a “sell” rating and set a $57.00 price objective on shares of Paychex in a research report on Wednesday, November 15th. Bank of America increased their price objective on Paychex from $64.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, October 4th. Citigroup reiterated a “sell” rating and set a $53.00 price objective on shares of Paychex in a research report on Monday, October 2nd. Morgan Stanley upgraded Paychex from an “underweight” rating to an “equal weight” rating and set a $55.00 price objective for the company in a research report on Wednesday, August 16th. They noted that the move was a valuation call. Finally, Wells Fargo & Company increased their price objective on Paychex from $58.00 to $60.00 and gave the company a “market perform” rating in a research report on Wednesday, October 4th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $61.19.
Paychex (NASDAQ:PAYX) last announced its earnings results on Tuesday, October 3rd. The business services provider reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.02. Paychex had a net margin of 26.01% and a return on equity of 43.01%. The company had revenue of $816.80 million for the quarter, compared to the consensus estimate of $816.34 million. During the same period in the previous year, the business earned $0.60 EPS. The company’s revenue was up 4.0% on a year-over-year basis. equities analysts anticipate that Paychex will post 2.37 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend was Tuesday, October 31st. Paychex’s dividend payout ratio (DPR) is currently 87.34%.
In other news, CEO Martin Mucci sold 29,786 shares of the company’s stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $63.17, for a total value of $1,881,581.62. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Laurie L. Zaucha sold 15,000 shares of the company’s stock in a transaction on Monday, September 25th. The stock was sold at an average price of $60.00, for a total transaction of $900,000.00. Following the completion of the transaction, the vice president now directly owns 51,360 shares in the company, valued at $3,081,600. The disclosure for this sale can be found here. Over the last three months, insiders have sold 94,395 shares of company stock worth $5,914,383. Company insiders own 11.70% of the company’s stock.
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Paychex Company Profile
Paychex, Inc is a provider of integrated human capital management (HCM) solutions for payroll, human resource (HR), retirement and insurance services for small- to medium-sized businesses in the United States. The Company also has operations in Germany. The Company offers services, including Payroll processing, Human Resource Services, and Accounting and Financial Services.
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